Snyder's-Lance (NASDAQ:LNCE) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Monday. They currently have a $43.00 price objective on the stock. BMO Capital Markets’ price target would indicate a potential downside of 14.07% from the stock’s current price.
Several other equities analysts have also recently weighed in on the stock. UBS cut their target price on shares of Snyder's-Lance from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. TheStreet cut shares of Snyder's-Lance from a “b” rating to a “c+” rating in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Snyder's-Lance from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, October 18th. SunTrust Banks reissued a “hold” rating and issued a $35.00 price objective on shares of Snyder's-Lance in a research note on Friday, November 10th. Finally, Deutsche Bank set a $50.00 price objective on shares of Snyder's-Lance and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.33.
Snyder's-Lance (NASDAQ:LNCE) traded up $3.25 on Monday, reaching $50.04. 12,469,865 shares of the company traded hands, compared to its average volume of 645,070. The stock has a market capitalization of $4,880.00, a PE ratio of 42.15 and a beta of 0.71. Snyder's-Lance has a 52 week low of $31.03 and a 52 week high of $50.29. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.58.
Several large investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Snyder's-Lance by 1.7% in the 2nd quarter. BlackRock Inc. now owns 8,665,893 shares of the company’s stock worth $300,013,000 after buying an additional 145,840 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Snyder's-Lance by 108.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,165,505 shares of the company’s stock worth $144,210,000 after buying an additional 2,166,488 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Snyder's-Lance by 5.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,491,528 shares of the company’s stock worth $133,166,000 after buying an additional 168,643 shares in the last quarter. State Street Corp boosted its stake in shares of Snyder's-Lance by 5.7% during the 2nd quarter. State Street Corp now owns 2,805,872 shares of the company’s stock worth $97,137,000 after purchasing an additional 150,943 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of Snyder's-Lance by 2.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,312,214 shares of the company’s stock worth $89,158,000 after purchasing an additional 62,904 shares during the period. 64.51% of the stock is owned by institutional investors and hedge funds.
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About Snyder's-Lance
Snyder’s-Lance, Inc is a snack food company. The Company is engaged in the manufacturing, distribution, marketing and sale of snack food products. Its products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, restaurant style crackers, popcorn, nuts and other salty snacks.
